BUSINESS

Nintendo cuts Wii U price to $299.99

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WASHINGTON (AP) - Nintendo is cutting the price of its Wii U video-game system as it braces for the fall release of new, competing consoles from Sony and Microsoft.

Nintendo announced Wednesday that it will reduce the price of the Wii U deluxe set from $349.99 to $299.99, effective Sept. 20.

The Wii U has struggled to find an audience. Nintendo sold 3.61 million of the consoles between the Wii U's launch last November and the end of June. The company aims to sell 9 million Wii U units over the fiscal year through March 2014.

Sony's new console, the PlayStation 4, is due Nov. 15 with a $399 price tag. Microsoft has not announced an exact launch date for its Xbox One, which will cost $499.

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